Textron (NYSE:TXT) Updates FY 2024 Earnings Guidance

Textron (NYSE:TXT) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 6.200-6.400 for the period, compared to the consensus EPS estimate of 5.910. The company issued revenue guidance of -.

Analyst Ratings Changes

A number of research analysts have recently commented on TXT shares. The Goldman Sachs Group upped their price target on shares of Textron from $103.00 to $120.00 and gave the stock a buy rating in a report on Tuesday, April 16th. Susquehanna dropped their price target on Textron from $110.00 to $105.00 and set a positive rating on the stock in a research report on Friday. Bank of America upgraded Textron from a neutral rating to a buy rating and lifted their price objective for the company from $85.00 to $105.00 in a report on Friday, March 8th. UBS Group increased their target price on shares of Textron from $77.00 to $81.00 and gave the stock a sell rating in a report on Friday, January 26th. Finally, StockNews.com upgraded shares of Textron from a buy rating to a strong-buy rating in a report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $95.63.

Textron Stock Up 1.9 %

Shares of TXT stock traded up $1.61 during mid-day trading on Friday, hitting $86.51. 2,663,222 shares of the stock traded hands, compared to its average volume of 1,221,088. Textron has a 52-week low of $61.27 and a 52-week high of $97.33. The stock has a market cap of $16.64 billion, a P/E ratio of 18.93, a P/E/G ratio of 1.48 and a beta of 1.30. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.92 and a quick ratio of 1.03. The stock’s fifty day moving average is $92.09 and its two-hundred day moving average is $83.81.

Textron (NYSE:TXT) last posted its earnings results on Thursday, April 25th. The aerospace company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.08). The firm had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.29 billion. Textron had a net margin of 6.73% and a return on equity of 16.05%. The company’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.05 EPS. Equities analysts predict that Textron will post 6.27 EPS for the current year.

Textron Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.09%. The ex-dividend date is Friday, June 14th. Textron’s dividend payout ratio is currently 1.75%.

Textron Company Profile

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. It operates through six segments: Textron Aviation, Bell, Textron Systems, Industrial, Textron eAviation, and Finance. The Textron Aviation segment manufactures, sells, and services business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and offers maintenance, inspection, and repair services, as well as sells commercial parts.